# Should I be paranoid about this home buyer? **URL:** \ **Category:** In My Humble Opinion\ **Created:** [August 16, 2018, 1:53pm UTC](https://boards.straightdope.com/t/should-i-be-paranoid-about-this-home-buyer/819728 "2018-08-16T13:53:09Z")\ **Posts on this page:** 20\ **Page:** 3
**Author:** ![Renee](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/renee/32/287_2.png) [@Renee](https://boards.straightdope.com/u/Renee)\ **Post date:** [August 17, 2018, 2:51pm UTC](https://boards.straightdope.com/t/should-i-be-paranoid-about-this-home-buyer/819728/41 "2018-08-17T14:51:15Z")
We allowed a buyer to do this on the last house we sold. Ended up taking 6 months to close. It was a total nightmare. Don’t do it. ---
**Author:** ![CelticKnot](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/celticknot/32/3392_2.png) [@CelticKnot](https://boards.straightdope.com/u/CelticKnot)\ **Post date:** [August 17, 2018, 3:13pm UTC](https://boards.straightdope.com/t/should-i-be-paranoid-about-this-home-buyer/819728/42 "2018-08-17T15:13:50Z")
The information wasn’t included in the OP, but I had to jump in to answer this: > [@filmore](#): > > It may be tricky to get an actual apartment for a month because they usually do leases. However, there are plenty of AirBNB places and such which will be happy to rent for a month. In Kansas? It really depends on what part of Kansas the house is located. I have never been in the NE part of the state. The SW corner, on the other hand, is rural to the point of being almost desolate in places. Even the cities are small and not exactly thriving. Alpha, my condolences to you and your family, and prayers for a quick resolution. I know that being a landlord is far different from being a seller in the eyes of the IRS. Be certain of your legal rights and responsibilities, whatever you do. ---
**Author:** ![GESancMan](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/gesancman/32/2923_2.png) [@GESancMan](https://boards.straightdope.com/u/GESancMan)\ **Post date:** [August 17, 2018, 3:19pm UTC](https://boards.straightdope.com/t/should-i-be-paranoid-about-this-home-buyer/819728/43 "2018-08-17T15:19:40Z")
> [@Tired\_and\_Cranky](#): > > I’d be reluctant and distrustful, much like the other posters. Lease terms generally end on the last day of the month, not a few days before it. Every time we have given notice to a landlord, we have chosen a date to be out by. It doesn’t have to be the last day of the month; the notice only has to be at least 30 days. And the move-out date must be after the end of the lease, of course. The point is, these buyers could easily have gone over their lease end-date, and be paying extra days or weeks of rent. They chose the date they would move out based on when they thought they would be taking possession of their new house. I’m speculating, of course, but I see no reason for mistrust on this particular issue. ---
**Author:** ![Alpha\_Twit](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/alpha_twit/32/265_2.png) [@Alpha\_Twit](https://boards.straightdope.com/u/Alpha_Twit)\ **Post date:** [August 17, 2018, 5:06pm UTC](https://boards.straightdope.com/t/should-i-be-paranoid-about-this-home-buyer/819728/44 "2018-08-17T17:06:43Z")
> [@CelticKnot](#): > > In Kansas? > It really depends on what part of Kansas the house is located. > I have never been in the NE part of the state. The SW corner, on the other hand, is rural to the point of being almost desolate in places. Even the cities are small and not exactly thriving. > > Alpha, my condolences to you and your family, and prayers for a quick resolution. Many thanks for your kind thoughts. The home is in Beloit, Ks in the north central part of the state, zip code 67420. [Here](https://www.hansenonlineauction.com/inventory/?/listings/other-items/for-sale/25843603/sale-pending-617-n-walnut-beloit-ks?LP=TH&dlr=1&pcid=3772613&lo=4&title=Residential+Listings) is the listing for those who care. I did check on AirBNB listings in the area and there are a handful within 30 miles. Nothing I would consider convenient. My sisters are both pretty much OK with the rental but it scares the heck out of me. My oldest sister and I are co-executors of the estate. Either one of us could legally sign the agreement but I just can’t do it without taking it up with the attorney and I can’t do this until Monday. ---
**Author:** ![DrDeth](https://avatars.discourse-cdn.com/v4/letter/d/b487fb/32.png) [@DrDeth](https://boards.straightdope.com/u/DrDeth)\ **Post date:** [August 17, 2018, 6:45pm UTC](https://boards.straightdope.com/t/should-i-be-paranoid-about-this-home-buyer/819728/45 "2018-08-17T18:45:10Z")
> [@kayaker](#): > > There’s absolutely nothing in it “for you”. They can rent an apartment and storage for their stuff. If that was required for me, I’d back out. Pay an extra security fee and last months rent? No thanks. I would say, OP, is yes, but make sure it is all in writing. ---
**Author:** ![DrDeth](https://avatars.discourse-cdn.com/v4/letter/d/b487fb/32.png) [@DrDeth](https://boards.straightdope.com/u/DrDeth)\ **Post date:** [August 17, 2018, 6:58pm UTC](https://boards.straightdope.com/t/should-i-be-paranoid-about-this-home-buyer/819728/46 "2018-08-17T18:58:52Z")
> [@LynnM](#): > > I’m wondering about something–maybe the real-estate pros who’ve posted above can answer: > > _Selling_ to someone is one thing; _renting_ is something else. > > So would it be appropriate for the seller to run a background check on his potential tenants? They obviously have decent credit, all that money stuff has been checked. ---
**Author:** ![LynnM](https://avatars.discourse-cdn.com/v4/letter/l/b2d939/32.png) [@LynnM](https://boards.straightdope.com/u/LynnM)\ **Post date:** [August 17, 2018, 7:11pm UTC](https://boards.straightdope.com/t/should-i-be-paranoid-about-this-home-buyer/819728/47 "2018-08-17T19:11:07Z")
> [@DrDeth](#): > > They obviously have decent credit, all that money stuff has been checked. That’s a background check for **buyers** ; if I were landlording, I’d run a criminal background check on potential tenants. Or does a “money stuff” background check include that? ---
**Author:** ![DrDeth](https://avatars.discourse-cdn.com/v4/letter/d/b487fb/32.png) [@DrDeth](https://boards.straightdope.com/u/DrDeth)\ **Post date:** [August 17, 2018, 7:22pm UTC](https://boards.straightdope.com/t/should-i-be-paranoid-about-this-home-buyer/819728/48 "2018-08-17T19:22:35Z")
> [@LynnM](#): > > That’s a background check for **buyers** ; if I were landlording, I’d run a criminal background check on potential tenants. Or does a “money stuff” background check include that? No, but in most states, a private person cant do that anyway, except by googling name and “arrest”. ---
**Author:** ![elfkin477](https://avatars.discourse-cdn.com/v4/letter/e/a9a28c/32.png) [@elfkin477](https://boards.straightdope.com/u/elfkin477)\ **Post date:** [August 17, 2018, 11:21pm UTC](https://boards.straightdope.com/t/should-i-be-paranoid-about-this-home-buyer/819728/49 "2018-08-17T23:21:55Z")
I took a workshop in home-buying and the advice was to say “no” to any rental agreements. Don’t rent the home to the buyer so they can move in early. And don’t rent the house back to a seller so they can move out later than planned. ---
**Author:** ![RTFirefly](https://avatars.discourse-cdn.com/v4/letter/r/c77e96/32.png) [@RTFirefly](https://boards.straightdope.com/u/RTFirefly)\ **Post date:** [August 18, 2018, 12:49am UTC](https://boards.straightdope.com/t/should-i-be-paranoid-about-this-home-buyer/819728/50 "2018-08-18T00:49:25Z")
I’m with the ‘don’t rent’ crowd. But if you decide to rent, I’d suggest making a nonrefundable deposit as part of the deal, where it counts towards the purchase of the house if closing is by a fixed date, but if closing is delayed past that date, the deposit is yours to keep and doesn’t count towards the purchase of the house even if they eventually close on it. ---
**Author:** ![GaryM](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/garym/32/241_2.png) [@GaryM](https://boards.straightdope.com/u/GaryM)\ **Post date:** [August 18, 2018, 12:55am UTC](https://boards.straightdope.com/t/should-i-be-paranoid-about-this-home-buyer/819728/51 "2018-08-18T00:55:45Z")
I was speaking to areal estate agent of my acquaintance and mentioned this thread. He said that my state, Missouri, has a Buyer early move in form that covers this kind of situation that provides protection for the seller. GaryM ---
**Author:** ![LynnM](https://avatars.discourse-cdn.com/v4/letter/l/b2d939/32.png) [@LynnM](https://boards.straightdope.com/u/LynnM)\ **Post date:** [August 23, 2018, 3:31pm UTC](https://boards.straightdope.com/t/should-i-be-paranoid-about-this-home-buyer/819728/52 "2018-08-23T15:31:17Z")
**Alpha Twit** , did you reach a decision on this? ---
**Author:** ![Alpha\_Twit](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/alpha_twit/32/265_2.png) [@Alpha\_Twit](https://boards.straightdope.com/u/Alpha_Twit)\ **Post date:** [August 23, 2018, 7:39pm UTC](https://boards.straightdope.com/t/should-i-be-paranoid-about-this-home-buyer/819728/53 "2018-08-23T19:39:36Z")
Lawyer pretty much echoed what has been said here. “Get everything in writing, get a security deposit, have them specifically waive their right to oppose eviction if the sale doesn’t go through by Oct first.” We’re still waiting on the rental agreement document to be delivered for review by our attorney and our signature. Until that happens, we’re at a standstill and they’re not going to set a pinkie toe in on the property. ---
**Author:** ![Alpha\_Twit](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/alpha_twit/32/265_2.png) [@Alpha\_Twit](https://boards.straightdope.com/u/Alpha_Twit)\ **Post date:** [August 23, 2018, 8:12pm UTC](https://boards.straightdope.com/t/should-i-be-paranoid-about-this-home-buyer/819728/54 "2018-08-23T20:12:24Z")
I have not personally spoken with the buyers but my discussions with the realtor seems to indicate that the buyers wanted to do this as a quick and dirty informal agreement. When we started “lawyering up”, they started exploring other options. I’m hoping the sale is still on track even if it is delayed a bit. We’ll see. ---
**Author:** ![Czarcasm](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/czarcasm/32/4050_2.png) [@Czarcasm](https://boards.straightdope.com/u/Czarcasm)\ **Post date:** [August 23, 2018, 8:33pm UTC](https://boards.straightdope.com/t/should-i-be-paranoid-about-this-home-buyer/819728/55 "2018-08-23T20:33:20Z")
There is a chance that the sale was never on track in the first place, and that the whole thing was to ploy to get a rental without the usual obligations. ---
**Author:** ![Alpha\_Twit](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/alpha_twit/32/265_2.png) [@Alpha\_Twit](https://boards.straightdope.com/u/Alpha_Twit)\ **Post date:** [August 23, 2018, 8:36pm UTC](https://boards.straightdope.com/t/should-i-be-paranoid-about-this-home-buyer/819728/56 "2018-08-23T20:36:18Z")
> [@Czarcasm](#): > > There is a chance that the sale was never on track in the first place, and that the whole thing was to ploy to get a rental without the usual obligations. Stranger things have happened although they have paid a $500 deposit which they will forfeit to us if they back out now. ---
**Author:** ![LynnM](https://avatars.discourse-cdn.com/v4/letter/l/b2d939/32.png) [@LynnM](https://boards.straightdope.com/u/LynnM)\ **Post date:** [September 2, 2018, 7:09pm UTC](https://boards.straightdope.com/t/should-i-be-paranoid-about-this-home-buyer/819728/57 "2018-09-02T19:09:50Z")
OP, what happened? I want to know how this drama ends… ---
**Author:** ![Alpha\_Twit](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/alpha_twit/32/265_2.png) [@Alpha\_Twit](https://boards.straightdope.com/u/Alpha_Twit)\ **Post date:** [September 3, 2018, 12:45am UTC](https://boards.straightdope.com/t/should-i-be-paranoid-about-this-home-buyer/819728/58 "2018-09-03T00:45:24Z")
The buyers raised some kind of a ruckus when the home inspection found mold in the basement. We went ahead and paid for the mold abatement but did not arrange for the cosmetic reconstruction (drywall repair and painting). The buyers agree to do these repairs themselves at their expense without lowering the purchase price if we let them move in before close of sale. Sister has apparently gotten some good references about the buyers from trusted members of our family and has consented to let them move in without much of a formal agreement and without my approval. There is no signed agreement and we’re pretty much dependent on their good will. She and I are co-executors of the estate and she was within her legal authority to do so. At this point, what’s done is done and all I can do is hold on and hope for the best. When I gete more info, I’ll pass it along. ---
**Author:** ![Alley\_Dweller](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/alley_dweller/32/430_2.png) [@Alley\_Dweller](https://boards.straightdope.com/u/Alley_Dweller)\ **Post date:** [September 3, 2018, 12:49am UTC](https://boards.straightdope.com/t/should-i-be-paranoid-about-this-home-buyer/819728/59 "2018-09-03T00:49:54Z")
Oh boy! I’m looking forward to more updates. Thanks! ---
**Author:** ![Kiwi\_Fruit](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/kiwi_fruit/32/12_2.png) [@Kiwi\_Fruit](https://boards.straightdope.com/u/Kiwi_Fruit)\ **Post date:** [September 4, 2018, 2:27am UTC](https://boards.straightdope.com/t/should-i-be-paranoid-about-this-home-buyer/819728/60 "2018-09-04T02:27:04Z")
> [@Alpha\_Twit](#): > > Stranger things have happened although they have paid a $500 deposit which they will forfeit to us if they back out now. This is a bit of a side note, but this deposit seems really, really low, like seriously low. It must be different for you, but it’s commonplace in New Zealand for deposits to be 5-10 % of the sale price when making a sale and purchase agreement. That’s going to be around $25,000 - $50,000 for places around me. So, why is it so low? [Previous page](https://boards.straightdope.com/t/should-i-be-paranoid-about-this-home-buyer/819728.md?page=2) [Next page](https://boards.straightdope.com/t/should-i-be-paranoid-about-this-home-buyer/819728.md?page=4)